Published on 9/6/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10.62 million 7.15% contingent yield trigger autocalls on Russell, fund
By Susanna Moon
Chicago, Sept. 6 – Barclays Bank plc priced $10.62 million of trigger autocallable contingent yield notes due Sept. 2, 2021 linked to the lesser performing of the SPDR S&P Bank ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.15% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly observation date after six months.
The payout at maturity will be par unless either underlying asset finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index or fund.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying assets: | SPDR S&P Bank ETF, Russell 2000 index
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| Amount: | $10,619,000
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| Maturity: | Sept. 2, 2021
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| Coupon: | 7.15% annualized, payable quarterly if each asset closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each asset finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worse performing index or fund
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| Call: | At par if asset closes at or above its initial level on each quarterly observation date beginning Feb. 28, 2019
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| Initial levels: | $49.47 for fund, 1,734.749 for Russell
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| Trigger levels: | $34.63 for fund, 1,214.324 for Russell, 70% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06746U703
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